4 weekly vs monthly salary - help!

kmarshall

Hi, my husband gets paid 4 weekly and I get paid monthly. Working out bills, etc for the day they go out of my bank account is driving me crazy!

Does anyone have any brilliant ideas for trying to sort out the logistics of this? I'm sure there are other people in the world with the same problem.

Many thanks

balletshoes

do you have just the one account, or do you both have your own accounts? is there a joint account for the bills? what do you do now and how do you share the household bills at the moment?

19lottie82

Eh? It's not that hard. I used to get paid 4 weekly, and it was a bit of a PITA but it didn't leave me tearing my hair out.

If you can afford it try to view each wage as "monthly", then you will have a wage that is "bill free" every year, great for a holiday or christmas.

Set up a seperate bank account for bills / DD's only, then transfer how much you need in to there every month.

kmarshall

Hiya
We have one account that all our money goes into and all the bills are paid from. Any advice gratefully received because I'm getting snowed under with it now and getting our finances into a bit of a pickle.
Thanks

flutterby_lil

Does 4 weekly not just mean it will go in earlier than monthly? Do most of your dds go out on last or first working ay of month? If so I can't understand what difference it makes?

kmarshall

Thanks Lottie; it's not the getting paid 4 weekly that's the issue, it's the logistical nightmare of me getting paid every month (perfect) versus husband getting paid 4 weekly so sometimes he may get paid, for instance, a day after all the bills have gone out.

mummybearx

I have changed all my direct debits so they come out of my account from the 1st til the 4th of each month. My wage is paid on the last day of the month. DH is currently on job seekers, gets paid fortnightly.

Wage in 31st. Bills out 1st-4th

Anything left is shopping/petrol etc, topped up with DH's JSA fortnightly

x

kmarshall

It does make a difference really, or maybe it's just me not being very good with finances but, for example, I get paid at the end of every month and most of our bills go out at the beginning but my wage doesn't cover them all, and my husband may not get paid until the middle of the month so it's a lot of juggling. There must be a simpler way I'm sure, I just can't see the wood for the trees now!

mummybearx

kmarshall wrote: »

Thanks Lottie; it's not the getting paid 4 weekly that's the issue, it's the logistical nightmare of me getting paid every month (perfect) versus husband getting paid 4 weekly so sometimes he may get paid, for instance, a day after all the bills have gone out.

Then you need your bills to come out the day after your wage gets paid in, that's the same date every month?

x

balletshoes

can you get the bills changed to the first week of the month (ie from your payday every month for around 7 days afterwards) or would that not work? It might just mean you juggle your main shopping day in the month, to work in with when your OH gets paid rather than at the start of each month when you get paid, but it should still work out shouldn't it?

19lottie82

OP, as I said you need to open another account for all of your bills to come out of. As soon as you and your OH get paid, transfer your 1/2 each into this account. What you have remaining is yours to spend. It is easy to get confused and end up overdrawn if you are trying to balance everything from 1 accout.

PS If your OH gets paid the day after the bills come out then surely he should have known when he got paid last, 3 weeks and 6 days ago, that he had to put money aside for the next set of bills? All that is needed here is a bit of self discipline, and having another account should help.